Key takeaways from Bisnow’s BMAC Conference

On May 6, I had the privilege of speaking at the 2025 Bisnow DFW Multifamily Annual Conference (BMAC) in Fort Worth, joining a panel focused on the city’s rapid evolution and growing role in the multifamily sector. Our conversation, titled “Spotlighting Fort Worth’s Multifamily Growth – Trends, Demographic Shifts and Leading Projects”, offered a chance to explore what’s shaping this high-growth market and where it’s headed.

Here are some of the key takeaways shared during the session and learned from conversations throughout the event.

Fort Worth’s identity is no longer in Dallas’s shadow

Fort Worth has transformed. Once regarded as Dallas’s quieter counterpart, it's now outpacing many major U.S. cities in population growth and urban development. With a distinct Western heritage, strong civic pride, and a business-friendly environment, Fort Worth attracts new residents and a new class of developers.

Two distinct urban profiles

Dallas and Fort Worth have diverging growth narratives. Dallas continues to attract institutional capital with its white-collar, high-density feel. Meanwhile, Fort Worth is carving out a niche as a more affordable, blue-collar, and community-oriented destination. That perception is changing as well-known Fort Worth submarkets like Clearfork and Alliance garner more interest from institutional investors.

Development is heating up

New multifamily projects in Fort Worth are catching up with and, in some cases, surpassing Dallas in terms of quality and amenities. Larger units, high-end finishes, and thoughtful amenities are the norm. Mixed-use neighborhoods such as West 7th and Southside are booming as demand for walkable, lifestyle-driven living increases. Trails like Trinity Trails and a push for distinct architectural styles are shaping the development approach.

Preserving character through smart planning

Form-based zoning is helping Fort Worth grow while maintaining its historic identity. Neighborhoods like the Stockyards and Southside use this approach to integrate modern development with longstanding community character. The result is a more authentic urban fabric that blends the old with the new.

Workforce housing remains critical

The city’s job growth, particularly in health care, education, and municipal services, has not been matched by an adequate and affordable housing supply. Class B and C properties play a vital role here, offering housing options for essential workers. These older assets often provide value-add potential, particularly in underserved areas near employment centers.

Retrofits are sustainability’s front line

Many developers and owners prioritize sustainability, but progress is tied to economics. Projects that focus on cost-effective upgrades like water-saving systems and energy-efficient lighting are seeing better adoption rates. Green certifications such as LEED are gaining momentum, but they still need to prove their ROI to scale more broadly.

Adaptive reuse gains traction

The opportunity to convert older office buildings and underused urban spaces into housing is accelerating. In Fort Worth, the area around the convention center is a hotspot for this trend. Thanks to strong historic tax credit programs, adaptive reuse is not just feasible; it’s financially attractive.

Investment outlook: go beyond the usual suspects

Investors often zero in on trophy assets in prime submarkets, but the story in Fort Worth suggests a broader view is needed. Markets like Burleson and Crowley offer solid fundamentals and room for growth. A flexible, wide-lens strategy is key to uncovering value across the metro.

A final note on affordable housing

While not the focus of my panel, several sessions at BMAC underscored how workforce and affordable housing remain national concerns. HUD is reviewing policy levers like opportunity zones to help spur development. Cities like Dallas are experimenting with long-term tax exemptions in exchange for affordability commitments.

At Walker & Dunlop and through Apprise, we’re proud to support our clients with market intelligence and valuation services that inform smart investment in both market-rate and affordable housing. Helping communities grow in a sustainable, equitable way is at the heart of what we do.

Whether you're exploring opportunities in Fort Worth or anywhere else nationwide, our data-driven insights and expert advisory services can help guide your next multifamily investment or development. Let’s connect to discuss how we can support your goals.